Identify the hazards (a hazard is anything that may cause harm; these can be hazards to physical health such as chemicals, electricity, working from ladders, an open drawer or to mental health). Decide who might be harmed and how and then Evaluate the risks and decide on precautions to be taken or controls to be put in place.
If you have fewer than five employees you don’t have to write anything down but it may prove difficult to evidence you have undertaken a risk assessment if you do not. If you have more than 5 employees you are required by law to record and keep your risk assessments.
Failure to carry out a risk assessment will leave an employer liable for any injury to their employees or others that could be injured as a result of their work. Employees can pursue injury claims for accidents that occur in the workplace or during the course of their employment if their employers have been negligent or breached their statutory duties.